June 18, 2025
Article from Fox Business by Aislinn Murphy
Article Synopsis
In a recent interview on The Claman Countdown, economist Peter Schiff sharply criticized the Federal Reserve following its decision to keep interest rates steady. Schiff argued that Fed Chair Jerome Powell admitted uncertainty about the economy and inflation, calling the Fed’s projections “wishful thinking.”While the Fed anticipates modest inflation and slow GDP growth, Schiff warned that inflation will be much higher and the economy much weaker than projected. He blamed years of low interest rates and quantitative easing for fueling inflation and predicted stagflation—a mix of recession and rising prices. Ultimately, Schiff said the U.S. may face a worse financial crisis than 2008, possibly leading to runaway or even hyperinflation.
